$NIL This sell-off is a bit interesting. In just 15 minutes, it dropped 1.88%, and the trading volume surged to 1.5 times, with volatility Z rising above 2.2. More importantly, the closing price has already fallen below the lower bound of the recent 20 five-minute K-line range; the proactive trade imbalance is -42.7%, and the buy-sell ratio is only 0.4—bearish control is completely in command.
But what’s interesting is that OI at 15m is still +0.03%, yet the notional change is already -59K. At the 1-hour level it’s even -2.3%. Combined with an 88% abnormal percentile, this looks more like newly entered leveraged shorts pushing the price rather than a simple capitulation by longs. It’s ranked 14th in the pool’s abnormalities, and the confirmation signals from depth are already very clear.
**Short-term bearish momentum is still there, but pay attention to the fact that OI notional is starting to contract—whether it’s short covering or new shorts taking over. In a breakdown move, don’t rush to catch a falling knife; first look for signs of accelerated bottoming.**
But what’s interesting is that OI at 15m is still +0.03%, yet the notional change is already -59K. At the 1-hour level it’s even -2.3%. Combined with an 88% abnormal percentile, this looks more like newly entered leveraged shorts pushing the price rather than a simple capitulation by longs. It’s ranked 14th in the pool’s abnormalities, and the confirmation signals from depth are already very clear.
**Short-term bearish momentum is still there, but pay attention to the fact that OI notional is starting to contract—whether it’s short covering or new shorts taking over. In a breakdown move, don’t rush to catch a falling knife; first look for signs of accelerated bottoming.**